Chandula attends IFAD meeting

Managing Director and CEO of the project management arm of Ceylon Chamber Commerce, CCC Solutions, Chandula Abeywickrema was invited by IFAD for a high level expert meeting on 'Remittance and Finance Instruments for Investment' in Bangkok recently.

According to IFAD sources, more than US$ 430 billion in remittances reached the developing world in 2013 with 40% of this flow going to rural areas.

This amount is equivalent to around four times the official development assistance (ODA) and exceeds foreign direct investment (FDI) inflows in most developing countries. In the next five years, given present trends, US$ 2.5 trillion will be sent as remittances, US$ 1 trillion of which will reach poor families in the rural developing world.